Selling a Home

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What Is a Quitclaim Assignment?

Assignment of a deed is the act of transferring that deed to another party and thereby transferring ownership. A quitclaim deed is a type of deed used to transfer real estate. In contrast to other deed types, the quitclaim doesn't offer any sort of protection for the buyer if ...

How Does a Short Sale Affect a Co-signer?

Mortgage holders on the verge of foreclosure may find some degree of relief if they can make a short sale instead. During a short sale, the lender agrees to sell the house for less than what you owe. Depending on your local laws, the balance might be forgiven or you might ...

Are Property Taxes Re-Evaluated With a Life Estate Deed?

A life estate deed lets you leave your home to a beneficiary without having to go through probate. The home automatically passes to the beneficiary you name on the deed. Having a life estate deed eliminates the need to put the property up for sale and find a buyer. Since no ...

How to Lower Taxes on the Sale of Inherited Rental Property

An inherited house isn't such a wonderful bequest if taxes eat up your gains when you sell it. Your gains are measured as the difference between the property value on the day the owner died and the price you get when you sell. Say your parents buy a house for $120,000 and die ...

Will the Bank Approve a Short Sale If the Sellers Already Agreed on the Offer?

Homeowners who owe more than the value of a property have few options, but a short sale can offer troubled homeowners a relatively easy escape. Even if homeowners receive and accept an offer on the property, though, the lender must still approve the short sale. Because some ...

House Appraisal Vs. Amount Paid

Ideally, the purchase price of a house should be the same as, or very close to, the appraisal, but that's not always the case. Instability in the real estate market has made lending institutions cautious in their estimates of home values, and appraisals sometimes come in lower ...

How to Legally Dispose of a Timeshare

Love them or hate them -- there's little middle ground when it comes to timeshares. If you no longer use yours or find that high maintenance and/or loan fees offset the benefits of vacation ownership, there are solutions. You can legally dispose of your timeshare by selling it ...

What Is the Difference Between the Deed of Absolute Sale and the Deed of Assignment?

The deed of absolute sale, which is used in most real estate purchases, transfers property without any conditions beyond satisfaction of the purchase price. A deed of assignment, by contrast, can be used any time one party wants to transfer contractual rights to another. Deeds ...

What Deductions Can I Claim on My Taxes for Selling My Home?

You might not think of your home as a capital asset, but the Internal Revenue Service does. And, when you sell it for a gain, Uncle Sam could be expecting to share in your windfall. There aren't "deductions" for selling your home, but taxpayers often overlook certain items when ...

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